Avantha Group Company CG, along with the other consortium partners Fabricom and lemants, has been selected by Van Oord, for the offshore wind project 'Gemini' in the Netherlands.
As part of the scope CG, will design, deliver and install 2 high voltage offshore substations and 1 HV onshore substation. The volume of the order for the consortium is in excess of Euro 150 million. CG's scope covers approx. 30% of the overall contract. The project is expected to start in the second quarter of 2014 and to be completed in 2016.
The Gemini project consists of 2 offshore wind farms i.e. Buitengaats (300MW) and ZeeEnergie (300MW) and is located 85 kms north of the island of Schiermonnikoog in the Dutch North Sea. The total 600MW of installed capacity will produce electricity for over 785,000 households which equals a reduction in emissions of 1,250,000 tons of CO2.
Avantha Group Company CG's CEO and managing director Laurent Demortier said, "We are delighted that Van Oord has awarded CG a ‘further order'. The transaction is consistent with our renewable energy strategy. It provides yet another opportunity to utilize CG's unique technology & expertise in wind offshore connection (HVAC) and to assist the Government and our clients in reducing carbon emissions and increasing the supply of green energy.''
Shares of the company declined Rs 0.80, or 0.40%, to settle at Rs 197.45. The total volume of shares traded was 316,072 at the BSE (Wednesday).